Question

to which account the following transactions will be debited and credited in the books of dhaval​

Answer 1

Please see the answer in the attachment.

Answer 2

1. Cash a/c           50000

       To capital a/c    50000

(Being the business started with cash.)

2. Furniture a/c      5000

         To cash a/c       5000

(Being the furniture purchased.)

3. Bank a/c             3000

     To cash a/c        3000

(Being the bank account opened by depositing cash.)

4. Purchases a/c     10000

        To cash a/c        10000

(Being the goods purchased.)

5. Nila a/c         5000

P/l a/c           3000

       To Purchases     8000

(Being the Goods of Rs.5,000 sold to Nila for Rs.8,000)

6. Sales return a/c      500

          To Nila                    500

(Being the goods returned by Nila.)

7. Insurance premium a/c     1000

       To bank a/c                   1000

(Being the Insurance premium paid through cheque.)